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president obama taking his message of middle class tax cuts back on the road. he will visit a engine plant in detroit tomorrow. it will pull him into michigan's right to work legislation that limits union ability to organize workers. have you ever fallen asleep by watching tv only to be blasted away by a loud add? >> wow, that's a low price! >> starting thursday, the commercial advertisement loudness mitigation act goes into effect. the law which congress passed in 2010 bans adds from being louder than the tv program they're interrupting. we'll talk about that presidential trip to michigan, and what he'll say about the union showdown there. with the spark cash card from capital one, olaf's pizza palace gets the most rewards of any small business credit card! pizza!!!!! [ garth ] olaf's small business earns 2% cash back on every purchase, every day! helium delivery. put it on my spark card! [ pop! ] [ garth ] why settle for less? great businesses deserve the most rewards! awesome!!! [ male announcer ] the spark business card from capital one. choose unlimited re
president obama taking his message of middle class tax cuts back on the road. he will visit a engine plant in detroit tomorrow. it will pull him into michigan's right to work legislation that limits union ability to organize workers. have you ever fallen asleep by watching tv only to be blasted away by a loud add? >> wow, that's a low price! >> starting thursday, the commercial advertisement loudness mitigation act goes into effect. the law which congress passed in 2010 bans adds...
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the things that people are talking about now, specifically very important people like president obama and speaker boehner, is the tax code and these programs that we sometimes call entitlements, medicare, medicaid and social security. those are the things that are on the table at the moment, not defense. unless the bargain fails, unless the two sides cannot get together and then the thing that will happen, and it will happen quickly, are drastic cuts in defense and domestic spending and an automatic increase in taxes. that is what must be avoided. just because the economy couldn't take it at this stage. we've had relatively slow growth in the economy, and though it seems to be picking up and the last jobs report was quite favorable, having a crash austerity program right now, that's what the fiscal cliff is, would be a big mistake. so the two sides have to get together on this grand bargain. >> well, we certainly hope they do. alice rivlin, thank you very much. >> you're welcome. >>> switching gears now. what is the future for the pop star psy? he may have the most popular video in th
the things that people are talking about now, specifically very important people like president obama and speaker boehner, is the tax code and these programs that we sometimes call entitlements, medicare, medicaid and social security. those are the things that are on the table at the moment, not defense. unless the bargain fails, unless the two sides cannot get together and then the thing that will happen, and it will happen quickly, are drastic cuts in defense and domestic spending and an...
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the opposite of what obama said. they don't believe it. they want a western european style cradle to grave state. they want to make sure that they preserve it and they want to pay for it. the middle class is going to be nailed and they are going to blame republicans and they are going to have to go back to get more money. isn't it mostly true, taxing the rich, and you poll the whole electric. the middle income people believe they are going to be next. middle income say you are not going to get enough money there. they are going to hit me and there is going to be a carbon tax. president obama needs to expand the government. i wish the majority of the middle class saw it that way. more than half the country felt that his left wing agenda was it. it isn't eventually the middle class is going to get nailed. and the spin will be that republicans jacked up the economy so badly. >> i think that is where this is going. i think there could be a tax and maybe it can't get through congress. but i have never seen a time, i have seen polls on this. tax
the opposite of what obama said. they don't believe it. they want a western european style cradle to grave state. they want to make sure that they preserve it and they want to pay for it. the middle class is going to be nailed and they are going to blame republicans and they are going to have to go back to get more money. isn't it mostly true, taxing the rich, and you poll the whole electric. the middle income people believe they are going to be next. middle income say you are not going to get...
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today president obama wants to let the bush era tax cuts expire for the wealthy americans only kicking up their marginal federal tax rate from a 35% bracket to 39.6%. we are talking about a 4.6% uptick for households making more than $250,000 a year only on every dollar they make above $250,000. that's why it's a marginal tax rake, only on the money you make on the margin. stephen moore is here from the wall street journal and he's ready to jump out of his skin after i said that. he specializes in telling me why i'm wrong. and our other guest, david johnston wrote "the fine print." stephen, you are our resident anti-tax crusader. i totally agree every penny counts when it comes to your own money. when you compare the taxes most americans paid in past decades i don't get why republicans are screaming bloody murder about this. what would be so bad with the wealthiest among us chipping in a little bit more? i'm emphasizing just a little bit more. >> when you showed that chart of the tax rates that was exactly accurate. we had 70% tax rates in the '70s. that didn't turn out well. then we c
today president obama wants to let the bush era tax cuts expire for the wealthy americans only kicking up their marginal federal tax rate from a 35% bracket to 39.6%. we are talking about a 4.6% uptick for households making more than $250,000 a year only on every dollar they make above $250,000. that's why it's a marginal tax rake, only on the money you make on the margin. stephen moore is here from the wall street journal and he's ready to jump out of his skin after i said that. he specializes...
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president obama agreed -- >> isn't that what they just did? >> no. the bottom line is democrats, led by our president almost uniformly say here's our first 1.2 trillion of getting to the 4 trillion. revenues. it's up to the republican leadership prodded correctly and boldly by senator corker and others to say they'll go along with this and then we'll negotiating on the other side. it makes no sense to negotiate against ourselves? do you buy that, senator corker? >> look, chris. we have to have a $4.4 trillion solution. i know senator schumer, i've talked with him numbers of times. he knows what we need to do and most republicans and democrats do. i think it's time for the president, he knows that there's a growing body of folks willing to look at the rate on the top 2% but that's only -- could be $400 billion, it made be 800 billion-dollar and many of us are beginning to see we could end up with a lesser revenue increase by agreeing to that. the shift in focus and entitlements is where we go. it's a shame we're not sitting down and solving this but r
president obama agreed -- >> isn't that what they just did? >> no. the bottom line is democrats, led by our president almost uniformly say here's our first 1.2 trillion of getting to the 4 trillion. revenues. it's up to the republican leadership prodded correctly and boldly by senator corker and others to say they'll go along with this and then we'll negotiating on the other side. it makes no sense to negotiate against ourselves? do you buy that, senator corker? >> look,...
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, the obama administration has finally allowed the pentagon to start planning how to implement them. the white house had steadfastly argued it was a waste of time to plan for cuts that might never happen. but with negotiations appearing to be stalled and doubtless to pressure them, the administration has cleared government departments to start preparing. the administration says the pentagon has little flexibility and that the budget control act calls for uniform cuts to every program, project or activity to total about $5 hundred billion. -- $500 billion. given the. has exempted military personnel, cuts of about 9% would hit programs, operations, civilians and benefits over the coming ten years. it's the abruptness and the thoughtlessness ever the cuts that make them problematic. the pentagon can cut more. it just needs more time and less mindless rules to do so. could sequestration still be avoided? yes, lawmakers could strike a deal at the last minute to keep it from happening or stop it shortly after it takes effect. but no matter what happens with sequestration, d.o.d. should use
, the obama administration has finally allowed the pentagon to start planning how to implement them. the white house had steadfastly argued it was a waste of time to plan for cuts that might never happen. but with negotiations appearing to be stalled and doubtless to pressure them, the administration has cleared government departments to start preparing. the administration says the pentagon has little flexibility and that the budget control act calls for uniform cuts to every program, project...
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it will be tax cuts. obama's premise that this country'country'scountry's firse fraudulent and he's fixing it, and they'll be etched in stone. tax cuts. >> the president has given the republicans flexibility to come up with a credible, specific plan. what they offered in return was an empty letter. >> when it comes to fiscal cliff that's threat nick our economy and threatening jobs, the white house has wasted another week. >> tax cuts is what caused the fall of the united states from super power status. >> this president just won a big election and you would think that he would want to lead. >> we've had the election. the president was clear in the campaign that he was advocating and fighting for the middle income tax cuts. >> tax cuts. the whole premise of tax cuts is going to be blamed for all of this economic mess. >> this is a moment of truth. the clock is ticking, christmas it coming, the goose is getting fat. in many homes across america, it's a very, very lean time. >> the reports indicate that the
it will be tax cuts. obama's premise that this country'country'scountry's firse fraudulent and he's fixing it, and they'll be etched in stone. tax cuts. >> the president has given the republicans flexibility to come up with a credible, specific plan. what they offered in return was an empty letter. >> when it comes to fiscal cliff that's threat nick our economy and threatening jobs, the white house has wasted another week. >> tax cuts is what caused the fall of the united...
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president obama remains insistent th republicans yields to his ultimatum that he be allowed to raise taxes on those making more than $250,000 a year. republicans for their part insist that the president gets serious about cutting spending in order to reduce trillion dollar deficits and a national debt that is now mind-boggling league not -- monotonous. house minority leader disagrees vehemently with the speaker on how to reduce deficits and debt. today she offered a paradoxical statement on fiscal policy that would make both casey stiegel and yogi berra proud. the nation now just 24 days away from $600 billion of spending cuts and tax increases that will automatically kicked in. and pelosi has some wise words for washington. please listen terror. >> this is a moment of truth. the clock is ticking. christmas is coming. the goose is getng fat. in many homes across america it is very, very lean times. you cannot cut your way to deficit reduction. lou: tha's right. pelosi says we cannot get our way to deficit reduction. listen to the top democrat in the house of representatives, the form
president obama remains insistent th republicans yields to his ultimatum that he be allowed to raise taxes on those making more than $250,000 a year. republicans for their part insist that the president gets serious about cutting spending in order to reduce trillion dollar deficits and a national debt that is now mind-boggling league not -- monotonous. house minority leader disagrees vehemently with the speaker on how to reduce deficits and debt. today she offered a paradoxical statement on...
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send spending cuts dpin. >>> a cloud of political uncertainty hanging over venezuela. hugo chavez is traveling to cuba for surgery for a third time. this time he named the vice president to replace him in case something was to happen to them. earlier parliament votes unanimously to give him permission leave the country. >>> a man who shot three people to death on an indian reservation in california has been killed. police near fresno were involved in the shoot-out with the man that reportedly opened fire earlier on several people, three of whom died. his two young daughters were wounded, and police chased the suspect and said he shot at them, too. >>> the national menorah in front of the white house, illuminated tonight, marking the start of hanukkah. of course, no hanukkah celebration would be complete without a spinning draddel. >> the big event at the nation's capital, president obama will be inaugurated for a second term and that means plenty of turnover among his top advisoriers. emily schmitt has a look at the upcoming cabinet. >> this is a wonderful opportunity
send spending cuts dpin. >>> a cloud of political uncertainty hanging over venezuela. hugo chavez is traveling to cuba for surgery for a third time. this time he named the vice president to replace him in case something was to happen to them. earlier parliament votes unanimously to give him permission leave the country. >>> a man who shot three people to death on an indian reservation in california has been killed. police near fresno were involved in the shoot-out with the man...
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if we do what president obama wants to do, it will only increase the gdp by 1.25%, having said that, it's just not about tax cuts, doug, it's more about cutting wasteful government spending. >> i was going to ask doug about that. doug, would you admit. since we have a democrat in the white house and also, the senate is democratically controlled. would you agree and how much is there of wasteful spending in washington? >> oh, there's a lot of wasteful spending, it's been around for before president obama was in office. and as i said before, he has, with the house republicans has already signed in law a trillion dollars in cut. and he'll do more. and i think that's encouraging and i think that shows he's willing to be plexable there, to angela's point which i agree with, a lot of what you're seeing is political theater. >> jamie: we're running out of time, doug. >> i agree. and that's true, but look, neither side wants to go over the cliff. politically it would be disastrous. >> for both sides. >> exactly, and for the president, he's the got an ambitious agenda next year, he wants to d
if we do what president obama wants to do, it will only increase the gdp by 1.25%, having said that, it's just not about tax cuts, doug, it's more about cutting wasteful government spending. >> i was going to ask doug about that. doug, would you admit. since we have a democrat in the white house and also, the senate is democratically controlled. would you agree and how much is there of wasteful spending in washington? >> oh, there's a lot of wasteful spending, it's been around for...
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the thing that a lot of people worry about in private is him and obama will cut a deal in late december negotiations. but boehner has been making tough moves with conservatives in his own caucus, kicking them off committees. when it comes down to it he's going to agree to something with the president and it is not going to be able to pass his own conference. do you have any sense of what you think he's able to do and not do at this point? >> we come back again to the entitlement question. it's going to be easier for the house republican caucus to swallow some marginal tax rate increase and a debt limit increase especially if they have got something to show for it. and the irony here, on a whole variety of issue, the democrats should actually be in favor of certain kinds of progressive entitlement reforms. it's not actually that big of a give. on social security, as an example, democrats have won for the time being on privatization being completely off the table. there's a strong argument for trying to lock that in now as opposed to waiting and having that potentially come back. in addit
the thing that a lot of people worry about in private is him and obama will cut a deal in late december negotiations. but boehner has been making tough moves with conservatives in his own caucus, kicking them off committees. when it comes down to it he's going to agree to something with the president and it is not going to be able to pass his own conference. do you have any sense of what you think he's able to do and not do at this point? >> we come back again to the entitlement question....
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that is what we are talking about. >> what is broken is taxes and the dead and spending cuts. if the president were honest and in good faith, he wouldn't be needing with a roundtable. he would be up to capitol hill. as president is not serious. >> the other thing about the debt limit is not an authorization to go into as much does he want for five years or whatever. it is a set dollar amount. how much? lou: based on past five years of the bush administration, i can assure you that it wilbe a staggering figure. especially since we have a president who is inclined to spend like hell. i don't think there's any doubt about that. the president today is absolutely indulging in class warfare. >> i cannot ask folks who are middle-class seniors on medicare and young people who are trying to get student loans for college -- i can't ask them to sacrifice. and not ask anything of higher income folks. lou: what are your thoughts? >> i love the word ask her if is that this is a chervil contribution as opposed to money being taken forcibly. second, what's he asking anyone to sacrifice other
that is what we are talking about. >> what is broken is taxes and the dead and spending cuts. if the president were honest and in good faith, he wouldn't be needing with a roundtable. he would be up to capitol hill. as president is not serious. >> the other thing about the debt limit is not an authorization to go into as much does he want for five years or whatever. it is a set dollar amount. how much? lou: based on past five years of the bush administration, i can assure you that...
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on the first $250,000 of their income. >> well, what if the obama administration lets it happen? what happens to the average american family. joining us here, is congressman randy forbes, nice to have you on the show. >> thank you, governor. >> let me ask you something, do you feel that the president actually wants it to happen so it gives him some political advantage? >> well, governor, i just have to judge that by two things, first of all, what i'm hearing from my colleagues on the democratic leadership side and told me as late as last week, they wanted to go over the fiscal cliff because we've argued all along they'll start by simply taxing everybody above 200,000, but that will continue and this'll lower at that rate and limit and they told me they'd vote for everything that tax everybody above $150,000 and secondly you look at the president as actions. the president doesn't want an agreement or compromise, he wants to get his way and that's why he won't come to the table with any serious proposal and talk, because we could get a solution that everybody could live with. >> it
on the first $250,000 of their income. >> well, what if the obama administration lets it happen? what happens to the average american family. joining us here, is congressman randy forbes, nice to have you on the show. >> thank you, governor. >> let me ask you something, do you feel that the president actually wants it to happen so it gives him some political advantage? >> well, governor, i just have to judge that by two things, first of all, what i'm hearing from my...
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if the mission is not a success, if obama had cut back and never speaks about this, this is never in consciousness of the nation there has never been war in our history where a president speaks less about and garners less support of behalf of real, on going operation where americans are dying. if that is our mission, which is minimal, getting out, why are the brave soldiers dying? >> bret: juan? >> i don't think it's the democrats that are not talking about the war. go to republican convention. the nominee didn't talk about afghanistan. i think real issue here is what can the united states rationally expect to accomplish before leaving. we have been there ten years and now the white of our tails show as we run away. we have been there. it's cost us lives and cost us another life. you can see that a good american doctor was there trying to help in terms of the rural clinic. no shortal of american commitment to afghanistan. the problem is not only americans but people who come before tried to stay and we have seen results. there is no way that any foreign force is going to set the futu
if the mission is not a success, if obama had cut back and never speaks about this, this is never in consciousness of the nation there has never been war in our history where a president speaks less about and garners less support of behalf of real, on going operation where americans are dying. if that is our mission, which is minimal, getting out, why are the brave soldiers dying? >> bret: juan? >> i don't think it's the democrats that are not talking about the war. go to republican...
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republicans have to rethink the idea this is obama's idea if we get the huge cut in defense that are unsupportable. >> they are bluffing that they don't care about going over the fiscal cliff. a bluff. it will send economy in a tail spin. >> i don't think so. the president is fine going over the cliff. if you look what he gets and the ability to play hero if the country went over the cliff, the president can remedy two problems that democrats faced for years. he becomes a huge tax cutter. he can restore the defense cut. i think the point that you are making are logical and correct, that is not how it plays out. perception is as much as anything else. you looking at a media eager to blame republicans on this. >> that's why i'm correcting them. >> you are correcting them. >> bret: we have an online show to talk more about this. >> i'm correct them even more. >> bret: you can correct them more in a much more relaxed atmosphere. tune in. next up, look at the front runners for yes, 2016. [ fishing rod casting line, marching band playing ] [ male announcer ] where do you hear that beat?] c
republicans have to rethink the idea this is obama's idea if we get the huge cut in defense that are unsupportable. >> they are bluffing that they don't care about going over the fiscal cliff. a bluff. it will send economy in a tail spin. >> i don't think so. the president is fine going over the cliff. if you look what he gets and the ability to play hero if the country went over the cliff, the president can remedy two problems that democrats faced for years. he becomes a huge tax...
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, the bush tax cuts and the obama tax cuts which have severely reduced the amount of revenue. the tax burden on americans from the federal government today is an 80-year low. we cannot fund the government with the revenues and loss in jobs that we have. host: cbo has done a study. including all parts of the tax cuts, and you have sequestration, you could increase the budget in very short order. this is a combination. we of had spending increases. the worst spending is dropping precipitously and we're still running a $1 billion deficit. it is about taxes, it is about other spending. in the future it will be about social security and medicare and medicaid, all of which go into negative financing at the end of the decade. guest: the debt doubling has been the consequence of tax cuts, lower revenues, the layoffs that happened and the recession we are still somewhat in. it is not true that if all the social entitlement programs going to the red at the end of the decade -- social security is likely to be very heavily financed by itself right through 2014. -- 2040. medicare has a rea
, the bush tax cuts and the obama tax cuts which have severely reduced the amount of revenue. the tax burden on americans from the federal government today is an 80-year low. we cannot fund the government with the revenues and loss in jobs that we have. host: cbo has done a study. including all parts of the tax cuts, and you have sequestration, you could increase the budget in very short order. this is a combination. we of had spending increases. the worst spending is dropping precipitously and...
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president obama continues his pressure campaign to pass the middle class tax cuts. the president is also taking time to be festive this holiday season. meantime, john boehner doesn't sound so merry. >> well, this isn't a progress report because there's no progress to report. when it comes to the fiscal cliff that is threatening our economy and threatening jobs, the white house has wasted another week. >> the house speaker had nothing of substance to say about this week's phone conversation with the president. >> the phone call was pleasant, but was just more of the same. the conversations that the staff had yesterday, just more of the same. it's time for the president if he's serious to come back to us with a counteroffer. >> boehner says the president is not being a helpful negotiator, even though the president apparently designed the negotiating sessions at boehner's request. according to "the new york times," boehner insisted the talks include only himself and the president of the united states. boehner wanted senate democrats and nancy pelosi out of the discussi
president obama continues his pressure campaign to pass the middle class tax cuts. the president is also taking time to be festive this holiday season. meantime, john boehner doesn't sound so merry. >> well, this isn't a progress report because there's no progress to report. when it comes to the fiscal cliff that is threatening our economy and threatening jobs, the white house has wasted another week. >> the house speaker had nothing of substance to say about this week's phone...
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that would let president obama pocket $1 trillion in tax revenue and secure a win on his key priority in the talks. but they would do nothing else. at the end of the year, we would still go over the fiscal cliff. remember, the bush tax cuts are one of the at least stimulative policies in the negotiations. according to the economic policy institute, extending the middle class tax cuts would wipe out only about 11% of the austerity's economic impact. 11%. but all that other stuff, the payroll tax cut, the unemployment insurance, the sequester, all that, that would still be expiring. so come early next year, the economy would likely be entering an austerity-induced recession. markets would be convulsing as they realize our austerity crisis is about to become also a default crisis. and so the economy, as a whole, is going to be going nuts. poll after poll already shows republicans are receiving more blame for the potential failure of the debt talks. and after telling the press they're going to make a strategic decision to use a debt ceiling as more and more dangerous leverage, they're lik
that would let president obama pocket $1 trillion in tax revenue and secure a win on his key priority in the talks. but they would do nothing else. at the end of the year, we would still go over the fiscal cliff. remember, the bush tax cuts are one of the at least stimulative policies in the negotiations. according to the economic policy institute, extending the middle class tax cuts would wipe out only about 11% of the austerity's economic impact. 11%. but all that other stuff, the payroll tax...
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here's the top ten led by the second-year running, president barack obama. the highest ranking female, angela merkel. then mr. putin of russia. bill gates, pope benedict, ben bernanke, saudi king. more on how the list was assembled and other details, forbes media ceo, mike, thanks for being with us. >> this is important to us because nothing personifies what we do at forbes like our power list. we're about success and the impact of people who achieve success have. we have ten editors who get together. we draw on a huge bank -- >> they always agree on everything. don't they? >> exactly. there is some subjectivity, i must admit. they talk about the number of people that someone influences. the amount of financial resources that they have. how many spheres they operate in, are they just financial or are tle political or philanthropic. the fourth criteria is do they act on their power, do they use their power. and if you look at -- >> that's the reason why bill gates would rank so high here is how he has used some of his financial power in the philanthropic sphe
here's the top ten led by the second-year running, president barack obama. the highest ranking female, angela merkel. then mr. putin of russia. bill gates, pope benedict, ben bernanke, saudi king. more on how the list was assembled and other details, forbes media ceo, mike, thanks for being with us. >> this is important to us because nothing personifies what we do at forbes like our power list. we're about success and the impact of people who achieve success have. we have ten editors who...
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>> i am fine with cutting spending levels. [talking over each other] [talking over each other] megyn: great job. coming up, bob costas offers verification on his talk about gun culture after a murder suicide of a nfl player. and police traffic cameras. red light cameras in one city are the subject of a major class-action. why drivers claimed the cameras keeping neighborhoods if they are big methods of bringing in cash megyn: sportscaster bob costas offering clarification for his on-air comments about the nfl player who shot his girlfriend and then killed himself last weekend. those comments were made during the eagles and cowboys football game on sunday night. he blamed what he called america's gun culture for america's case of gun violence. here's a little from the comments on sunday night the matter tandems do not enhance our safety. they exacerbate our flaws. they beat us into embracing confrontation rather than avoiding it. in coming days, javon pilcher's actions and attention to football will be analyzed. who knows, but h
>> i am fine with cutting spending levels. [talking over each other] [talking over each other] megyn: great job. coming up, bob costas offers verification on his talk about gun culture after a murder suicide of a nfl player. and police traffic cameras. red light cameras in one city are the subject of a major class-action. why drivers claimed the cameras keeping neighborhoods if they are big methods of bringing in cash megyn: sportscaster bob costas offering clarification for his on-air...
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is clear that president obama will cut a deal or try to with the iranian regime over their nuclear weapons program that will, in fact, sacrifice the people of the iran. i would like to ask ali if you can add to some of those good suggestions that emanuele made earlier about tying in the human rights agenda and the nuclear agenda. i believe the best investment we can make is help the people i read get rid of the regime. >> thank you for the question. the united states has a fairly good experience in this regard many people in the group assembled here today belong to the right age group. you remember, some of you, the bad old days of the cold war but you also remember how the united states managed to start the helsinki process with the soviet union. the idea was that negotiations between the u.s. and the soviet regime -- and the iranian regime should not only be about nuclear proliferation but also a human in. in the soviet society, they felt there is international support and i knew there was a government outside their own totalitarian system trying to give them a push. that was important.
is clear that president obama will cut a deal or try to with the iranian regime over their nuclear weapons program that will, in fact, sacrifice the people of the iran. i would like to ask ali if you can add to some of those good suggestions that emanuele made earlier about tying in the human rights agenda and the nuclear agenda. i believe the best investment we can make is help the people i read get rid of the regime. >> thank you for the question. the united states has a fairly good...
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they want, the trillion dollars in spending cuts president obama agreed to, hundreds of billions in additional cuts, ending the payroll tax break, ending jobless benefits and they get the opportunity to create a new debt ceiling crisis in a few months. that's on the republican side, what the republicans get in their proposal. what do the democrats get in their proposal? they get this. a promise to end undefined tax deductions and loopholes of some kind at some point maybe next year. ta da! a fair and balanced middle ground. >> unfortunately, the speaker's proposal right now is still out of balance. >> yes. balance. here's the amazing part, though. after congressional republicans released their plan yesterday, which gives them everything they want and promises democrats that they might get something undefined that they might want maybe some time in the future. we'll talk about it later. after they put forth that sweet deal, this was the reaction from the beltway's conservative class. this is genius. sadly, this plan leaves conservatives wanting. wanting what exactly? the declaration
they want, the trillion dollars in spending cuts president obama agreed to, hundreds of billions in additional cuts, ending the payroll tax break, ending jobless benefits and they get the opportunity to create a new debt ceiling crisis in a few months. that's on the republican side, what the republicans get in their proposal. what do the democrats get in their proposal? they get this. a promise to end undefined tax deductions and loopholes of some kind at some point maybe next year. ta da! a...
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that president obama asked for of 400, almost $485 billion in 2011, even with the cuts in the army that that would have involved, the army would have still been roughly 30 or 40,000 troops bigger than it was when i became secretary in december of 2006. because i increased the size of the army by 65,000 in 2007, and then gave them an additional temporary increels of 2000 in 2008, or in 2010, rather, increels of 200,000, so i worry we think the answer is always go to be high tech, because it is cleaner, it is -- it dictates a different kind of war than we fought in iraq and afghanistan and i hope those are the kind of wars, if we have to fight, that that is what we don't have to go through what we went through in iraq and afghanistan, but i remember .. one of my favorite quotes is from general joe still well, from world war two, who basically said how a war starts, it always ends in mud. >> rose: ground forces fighting each other. >> and so you just don't know .. and because you don't know, you need to preserve flexibility. >> rose: you can't occupy with machines, can you, from the air? >
that president obama asked for of 400, almost $485 billion in 2011, even with the cuts in the army that that would have involved, the army would have still been roughly 30 or 40,000 troops bigger than it was when i became secretary in december of 2006. because i increased the size of the army by 65,000 in 2007, and then gave them an additional temporary increels of 2000 in 2008, or in 2010, rather, increels of 200,000, so i worry we think the answer is always go to be high tech, because it is...
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obama's plan to extend tax cuts for most americans while allowing them to go up for the richest, and start the fight all over again during debt limit talks early next year. >> that is a bad strategy for america. it is a bad strategy for your businesses. and it is not a game that i will play. >> reporter: and brian, tonight, the white house is preparing in case the country does go over that fiscal cliff, budget officials have asked all federal agencies for information that they need in case of possible plans in case of those automatic spending cuts that could go in place in just 27 days. >> peter alexander at the white house for us tonight. thank you. >>> and up next, the loss today of a legend in american music. i put away money. i was 21, so i said, "hmm, i want to retire at 55." and before you know it, i'm 58 years old. time went by very fast. it goes by too, too fast. ♪ but i would do it again in a heartbeat. [ laughs ] ♪ ♪ i took my son fishing every year. we had a great spot, not easy to find, but worth it. but with copd making it hard to breathe, i thought those days migh
obama's plan to extend tax cuts for most americans while allowing them to go up for the richest, and start the fight all over again during debt limit talks early next year. >> that is a bad strategy for america. it is a bad strategy for your businesses. and it is not a game that i will play. >> reporter: and brian, tonight, the white house is preparing in case the country does go over that fiscal cliff, budget officials have asked all federal agencies for information that they need...
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number three, we have the tax cuts, both the bush tax cuts and the obama tax cuts which have severely reduced the amount of revenue. the tax burden on americans from the federal government today is at an 80-year low. we simply cannot find the government with their revenues and the loss of jobs that we have. >> host: let me go back to you on that. is that true? >> the cbo has done a study. he got rid of all the current tax cuts, including the payroll tax cut, all parts of the biggest tax cut, not just the top level, and you have sequestration, so you actually have spending cuts, you could reduce that federal budget deficit to about 250- $300 billion in very short order. so this is a combination. we have had spending increases. let's not kid ourselves. we're coming of the worst. were spinning is dropping precipitously, and we're still running trillion dollar deficit. it's not all about the worst. it's about taxes and other spending. in the future let's not forget it will be in the social security and medicare and medicaid and all of which go into making ---financing around the end of th
number three, we have the tax cuts, both the bush tax cuts and the obama tax cuts which have severely reduced the amount of revenue. the tax burden on americans from the federal government today is at an 80-year low. we simply cannot find the government with their revenues and the loss of jobs that we have. >> host: let me go back to you on that. is that true? >> the cbo has done a study. he got rid of all the current tax cuts, including the payroll tax cut, all parts of the biggest...
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obama's view is we've cut so much from that already we have to be careful how much more we cut. >> when you talk about discretionary spending cuts, a big difference between defense cuts and domestic cuts. does it go after defense spending the way he has? >> he hasn't spelled it out yet. we don't know. r&d, a lot of investment programs we think we need to keep this economy growing. >> can i ask a question? what makes up the difference between the bowles-simpson proposals and the other ones? why is that so much higher? what are they leaving out? >> there were more tax increases. it was light on entitlements. >> okay. >> where did bowles-simpson get the revenue. >> they eliminated a whole slaw and lowering rates and also a tax on gasoline. >> they let the bush tax cuts expire, right? >> initially they did and then were going to do tax reform. >> would they increase the taxes on the rich? >> yeah. >> they would? >> yes. >> to the same extent? >> i would have to do the math. >> don't you do any homework? >> numbers cruncher. dad, thank you so much. i wasn't chained in any way. >> no, he didn
obama's view is we've cut so much from that already we have to be careful how much more we cut. >> when you talk about discretionary spending cuts, a big difference between defense cuts and domestic cuts. does it go after defense spending the way he has? >> he hasn't spelled it out yet. we don't know. r&d, a lot of investment programs we think we need to keep this economy growing. >> can i ask a question? what makes up the difference between the bowles-simpson proposals...
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. >>> up first, president obama standing his ground over the fight in the fiscal cliff. americans face crushing tax hikes and severe spending cuts in 27 days if democrats and republicans cannot come together on a deal. by the way, congress breaks for the holidays in ten days. slash that number. in an interview with bloomberg news, the president made it crystal clear he's not about to blink on the issue of tax hikes for the wealthiest americans. >> we'll have to see the rates on the top 2% go up. and we're not going to be able to get a deal without it. >> white house correspondent dan lothian joins us live from washington this morning. very nice to see you, dan. >> good to see you. >> here's the deal. we have republicans pitted against democrats. now we understand there are issues amongst republicans as well. >> that's right. they're in a tough spot here. they don't want to be in left in a position of being blamed for the fiscal cliff. you're seeing a division between house members and senate members. the reason for this is mainly over the 800 billion in new tax revenue.
. >>> up first, president obama standing his ground over the fight in the fiscal cliff. americans face crushing tax hikes and severe spending cuts in 27 days if democrats and republicans cannot come together on a deal. by the way, congress breaks for the holidays in ten days. slash that number. in an interview with bloomberg news, the president made it crystal clear he's not about to blink on the issue of tax hikes for the wealthiest americans. >> we'll have to see the rates on...
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after spending cuts, and medicare saving, and next is the revenue. >>reporter: leader pelosi spent time at the white house today meeting with president obama on what we are told are a number of issues. >>shepard: thank you, mike, from washington, dc. we know that business collects information from us when we go to our website our mobile apps. usually it is legal. there is a new law that requires companies to notify you if it is taking information from you. to law is about to be put to the test. i got word in the last 30 seconds and a ruling from the supreme court, a decision from the supreme court, actually, on whether it will hear a same-sex marriage case and the constitutionality of that. the answer is "yes" the court has notified us. all energy development comes with some risk, but proven technologies allow natural gas producers to supply affordable, cleaner energy, while protecting our environment. across america, these technologies protect air - by monitoring air quality and reducing emissions... ...protect water - through conservation and self-
after spending cuts, and medicare saving, and next is the revenue. >>reporter: leader pelosi spent time at the white house today meeting with president obama on what we are told are a number of issues. >>shepard: thank you, mike, from washington, dc. we know that business collects information from us when we go to our website our mobile apps. usually it is legal. there is a new law that requires companies to notify you if it is taking information from you. to law is about to be put...
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we know that president obama and john boehner spoke by phone. republican sources telling us they had a conversation yesterday. we don't have a readout on what that was about. we don't know that if any meetings have been scheduled. but any small sign of progress is welcome here on capitol hill. now with so many lawmakers headed home and likely to face the ire of their constituents, we saw one protester in baltimore yesterday over social security. there are a few left. today there's a joint economic committee hearing. they're going to hear from a top economist not only about the jobs numbers coming out tomorrow but also about what can be done to avoid this issue at the end of the year. >> tracie potts for us in washington. thank you. >>> last night on the ed show, steny hoyer explains why he thinks the debt ceiling vote should be taken off the table. >> the debt ceiling is a phone y vote, frankly. and from time to time democrats have made it an item that they demagogue down and the republicans have demagogued on it, as well. the debt limit is a re
we know that president obama and john boehner spoke by phone. republican sources telling us they had a conversation yesterday. we don't have a readout on what that was about. we don't know that if any meetings have been scheduled. but any small sign of progress is welcome here on capitol hill. now with so many lawmakers headed home and likely to face the ire of their constituents, we saw one protester in baltimore yesterday over social security. there are a few left. today there's a joint...
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president obama on the ground in michigan right now starting the week right where he left off last week. using the public to pressure republicans in to extending tax cuts for the middle class to avert the fiscal cliff. these are some live pictures of a diamler plant outside of detroit where the president will be speaking in a couple of minutes. the president greeted by the state's republican governor about an hour ago. one day before a controversial right to work bill the white house is opposed to is signed in to law. we'll have more on that later in the show but as far as the fiscal cliff, our first read team says we are already at the end game if the goal is to get a deal passed by december 21st. now that means the president and house speaker boehner have five days max to reach an agreement. that takes us to the 15th. then the legislation has to be written by the 18th. the president is now working two strategies to get a deal done. he met with speaker boehner yesterday. that's the first face to face in nearly a month and their one on one first one since july 2011. now, the other strat
president obama on the ground in michigan right now starting the week right where he left off last week. using the public to pressure republicans in to extending tax cuts for the middle class to avert the fiscal cliff. these are some live pictures of a diamler plant outside of detroit where the president will be speaking in a couple of minutes. the president greeted by the state's republican governor about an hour ago. one day before a controversial right to work bill the white house is opposed...
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the middle class and they'll be hit hard if congress fails to extend their tax cuts. meantime virginia could be hit hard if those spending cuts end up taking place especially in places like fairfax county where federal contracting is king. >> if you go make the kind of cuts that some are suggesting happen, then you're really hurting a lot of the small buss
the middle class and they'll be hit hard if congress fails to extend their tax cuts. meantime virginia could be hit hard if those spending cuts end up taking place especially in places like fairfax county where federal contracting is king. >> if you go make the kind of cuts that some are suggesting happen, then you're really hurting a lot of the small buss
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, the bush tax cuts and the obama tax cuts which have severely reduced the amount of revenue. the tax burden on americans from the federal government today is an 80-year low. we cannot fund the government with the revenues and loss in jobs that we have. host: cbo has done a study. including all parts of the tax cuts, and you have sequestration, you could increase the budget in very short order. this is a combination. we have had spending increases. the worst spending is dropping precipitously and we're still running a $1 billion deficit. it is about taxes, it is about other spending. in the future it will be about social security and medicare and medicaid, all of which go into negative financing at the end of the decade. guest: the debt doubling has been the consequence of tax cuts, lower revenues, the layoffs that happened and the recession we are still somewhat in. it is not true that all the social entitlement programs are going to the red at the end of the decade -- social security is likely to be very heavily financed by itself right through 2040. medicare has a real prob
, the bush tax cuts and the obama tax cuts which have severely reduced the amount of revenue. the tax burden on americans from the federal government today is an 80-year low. we cannot fund the government with the revenues and loss in jobs that we have. host: cbo has done a study. including all parts of the tax cuts, and you have sequestration, you could increase the budget in very short order. this is a combination. we have had spending increases. the worst spending is dropping precipitously...
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he says i will give you cuts in the future but he is not specific. his speeches are always peppered with we have to invest. he does not mean in the private sector. he wants more the firefighters, teachers, policemen. this adds to the public debt. we are borrowing, from what i read yesterday, 46 cents on every dollar. that appears to me to be untenable. i am no fan of john boehner but he makes an offer that got him in touch with the rest of the republicans, by the way, because they said he was capitulating but now, obama comes back with it is not good enough. host: let me go back to the "washington times"store rate -- guest: in the current environment that is the correct policy. there's only one component of gdp growth providing growth and that is the federal government. in the current environment, you don't want to reduce that substantially. host: when do you bend that curve? guest: i think we are past passing stimulus bill. we have been growing officially since june of 2009. we're past the need for more fiscal policy. we need better economic growth
he says i will give you cuts in the future but he is not specific. his speeches are always peppered with we have to invest. he does not mean in the private sector. he wants more the firefighters, teachers, policemen. this adds to the public debt. we are borrowing, from what i read yesterday, 46 cents on every dollar. that appears to me to be untenable. i am no fan of john boehner but he makes an offer that got him in touch with the rest of the republicans, by the way, because they said he was...
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. >> president obama wants republicans to agree to the wealthy tax hike before any negotiations about spending cuts begin. >>> just after midnight gay couples living in washington state made history joining in the first legal same-sex marriages in the state. the governor signed the voter approved referendum into law on wednesday. >>> mexican authorities say they have found the wreckage of a small plane believed carrying mexican american singer jenny rivera and six others. the plane had been missing since early this morning. reportedly lost contact with air-traffic controllers after taking off from monterey, mexico. authorities believe no one survived the crash. rivera is the mother of five children. >>> the national menorah in front of the white house was illuminated marking the start of the 5ieight-day jewish holiday hanukkah. ♪ of course, no hanukkah celebration would be complete without a spinning dreidel. this one danced to music performed by the u.s. navy band. >>> all the talk about the fiscal cliff may seem like a far off debate over politics in washington, but the reality is
. >> president obama wants republicans to agree to the wealthy tax hike before any negotiations about spending cuts begin. >>> just after midnight gay couples living in washington state made history joining in the first legal same-sex marriages in the state. the governor signed the voter approved referendum into law on wednesday. >>> mexican authorities say they have found the wreckage of a small plane believed carrying mexican american singer jenny rivera and six...
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. >> shepard: the white house says president obama believes he can cut a deal with house republicans to keep from all going over the fiscal cliff. the president is refusing to compromise on letting tax cuts expire on incomes of more than $250,000 a year. g.o.p. leaders are calling that a job killer and a deal breaker. of course, if we fall off the fiscal cliff, we'll all die, right? actually, taxes will go up for pretty much everybody and automatic spending cuts kick in on knew year's day. the president and the house speaker met face-to-face just yesterday for the first time since the election, but are they talking about it? no. today an aide said the speaker is willing and still waiting for counteroffer from the president. ed henry is live at the white house. i don't know, ed. a meeting happens and nobody says anything. this could be seen as something more good than bad. >> reporter: exactly. because they didn't come out of the meeting beating each other up and saying i'm never going to sign a deal with the other guy. the fact that they're keeping this quiet, hush hush for now in te
. >> shepard: the white house says president obama believes he can cut a deal with house republicans to keep from all going over the fiscal cliff. the president is refusing to compromise on letting tax cuts expire on incomes of more than $250,000 a year. g.o.p. leaders are calling that a job killer and a deal breaker. of course, if we fall off the fiscal cliff, we'll all die, right? actually, taxes will go up for pretty much everybody and automatic spending cuts kick in on knew year's...